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Debt Consumer Proposals in Canada

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Consumer proposals - your path to a debt free future

Finding your way through financial uncertainty is never easy. If you’re considering filing for a consumer proposal, it’s normal to feel overwhelmed and doubt whether you’re making the right decision. Our specialists understand the real weight of this struggle and the want for a fresh financial start.

Our dedicated team is here to provide clarity on consumer proposals, and help you find debt solutions that work for your specific needs. With us by your side, you’ll have the confidence to take back financial control, making informed decisions that lead to lasting financial well-being.

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Filing a consumer proposal - it's a simple process


We’ll take the time to understand your unique situation, without judgment. We need the full picture to help you find the best solution, including your income, debt, and who you owe money to. All consultations are free and confidential.


Once we understand your situation, we’ll start making a plan. We’ll explore all debt solutions and only recommend what’s right for you. We’ll never pressure you into any decisions and tailor our services to your needs.


Once you’re happy with the plan, we’ll help you put it into action. We’ll always prioritize your financial well-being and provide unwavering support and trustworthy guidance from start to finish.

Shahrad Nakhaie
Shahrad Nakhaie
They are so great, every thing was so easy for me. Unbelievable, All my debt are gone now and I feel like I'm free, thanks Osman Ali for all you did for me, at the first time it's even hard to believe that was real, but it's real and easy. Thank you bro for your help.
Osman is a professional and you cant find anybody better. He really cared about my situation and paid attention to every little detail so he can help me best. Thank you osman and the rest of the team for helping me through my struggles.
Banda Gueye
Banda Gueye
Osman is a vert nice gentlemen, he was polite sweet and gentle. He really cared about my situation and paid attention to every little detail so he can help me best. Thank you Osman and the rest of the team for helping me through my struggles.
Kim Brown
Kim Brown
So far this has been a great company, I have been with them over a year. Every time I have an issue Josh jumps right on it and helps me out. He never makes me feel like I'm being a pain in the butt 🙂 I definitely recommend them, I have referred two of my family members to get help and now Josh is helping them as well. I thank you Josh for all the hard work and responding so quickly to all my messages.⭐️⭐️⭐️⭐️⭐️
Ajanthan Murugananthan
Ajanthan Murugananthan
Staff members Samuel and Josh were both amazing. Both very friendly, professional, and efficient. They took care of my credit card issues and line of credit and made it manageable. I would highly recommend Harris & Partners Inc. They have given me a new life in my financial life to success.
Paul Woo
Paul Woo
Staff members Yasan and Josh were both amazing. Both very friendly, professional, and efficient. They took care of my credit card issues and made it manageable. I would highly recommend Harris & Partners Inc.

What is a consumer proposal?

In a consumer proposal, you make an agreement with the people you owe to pay back a lower percentage of your debt, over a longer period of time, with no interest or hidden fees. This flexibility can make your monthly repayments far more manageable, and the repayments are calculated based on what you can afford, your assets, income and debt load.

You will send your repayments to a Licensed Insolvency Trustee, who will send the money to your creditors on your behalf. It is the safest and most efficient way to consolidate your debt, and a great alternative to bankruptcy.

It’s normal to have doubts though, and we’re here so you don’t have to face your worries alone. Give our friendly team a call today for a safe, judgment-free space to talk about your financial situation.

Together we can get you on your way to financial freedom.

What happens when I file a consumer proposal?

If you’re considering this as a solution to your debt, you might be asking yourself “What are my responsibilities in a consumer proposal?” The good news is that the process is fairly simple:

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Step 1. Initial consultation with a Licensed Insolvency Trustee

Meet with one of our Licensed Insolvency Trustees (previously known as Trustees in Bankruptcy), to help us understand your financial situation

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Step 2. Developing a tailored debt relief solution

Together we will find the best solution for you and, if you meet the criteria, we will file a consumer proposal with your signature

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Step 3. Submission and review of the consumer proposal

The consumer proposal will be reviewed by the people you owe money to – they will decide to approve it or not

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Step 4. Response to proposal acceptance or rejection

If accepted, you simply make your monthly payment to the Trustee. If denied, then you can make changes to the proposal and resubmit it, find another way to solve your financial issues, or declare bankruptcy

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Step 5. Completion and debt resolution

Once the terms of the proposal are met and all payments are made, the remaining debt from the proposal will be written off

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Is a consumer proposal right for me?

The right solution for your debt will be as unique as your financial situation itself. Not sure if a consumer proposal is what you need? Here are some of the benefits:

  • Avoids bankruptcy – Consumer proposals offer a safe way to avoid bankruptcy and, in most cases, creditors will accept your proposal if they are paid back more than they’d expect to get through bankruptcy.
  • Manageable payments and reduced debt – You will agree to a manageable payment package that could reduce the amount you owe by up to 70%.
  • Fixed payments – You pay back the same amount every month, regardless of whether your earning potential increases.
  • Keep your assets – Your belongings, such as property and investments, will be protected.
  • No interest or hidden fees

When you’re looking for a good debt solution, there’s always a lot of information to digest. So, if you’ve got questions, feel free to reach out to our team of professionals today – we are always on hand to help.

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What debts are included in a Consumer Proposal?

Consumer proposals can help you with a large number of unsecured debts. This could include:

Can’t see your debt type in the list above? Don’t worry – we can still help. Consumer proposals only deal with unsecured creditors, meaning all secured loans like your mortgage or car loan must be handled separately.

If you’re not sure which type of debt you have, get in touch today and we can help you figure it out.

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Can I file for a consumer proposal?

In Canada, consumer proposals are federally regulated. This just means there’s a few criteria you have to meet to qualify for consumer proposals, such as:

  • You are able to pay a percentage of your debt.
  • You’re a consumer with less than $250,000 of unsecured debt.
  • You are a Canadian citizen or own property in Canada.
  • Your debts are greater than any asset that you own.

We know how daunting this decision can be, but there’s no reason to lose your house or car if this solution works for you. Protect yourself and your property with a consumer proposal today – we will be here to help every step of the way.

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Support across Canada

Why Harris & Partners

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Remove up to 80% of your debt

Our Licensed Insolvency Trustees provide a customized service that could remove up to 80% of your debt and stress, so you can breathe easier.

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We speak your language

Our multilingual team provides support in many languages, from Farsi and Portuguese to Italian and Tamil, leaving out complicated jargon, so you understand everything, every step of the way.

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Debt support across nine provinces

Want to speak to someone in person? Our team is on hand to help at a Harris & Partners office near you.

Our Licensed Insolvency Trustees - here to help with consumer proposals

With our Licensed Insolvency Trustees, you will never have to face the stress of debt alone again. We are backed by years of experience and are ready to help you find a way to financial security.

  • Jay harris
    Jay T. Harris
    Licensed Insolvency Trustee
  • kyle
    Kyle Harris
    LL.B., CIRP, LIT
    Licensed Insolvency Trustee
  • adam
    Adam Fisher
    Licensed Insolvency Trustee
  • Joshua Harris
    Joshua Harris
    Licensed Insolvency Trustee
  • advisor
    David Adams
    Licensed Insolvency Trustee
  • doug
    Doug Loiselle
    Licensed Insolvency Trustee
  • Rob McLernon
    Robert McLernon
    BComm, CIRP, LIT
    Licensed Insolvency Trustee
  • shelley
    Shelley Koehli
    Licensed Insolvency Trustee
  • Jill Strueby
    Licensed Insolvency Trustee

Consumer Proposal FAQs

Will a consumer proposal affect my credit rating?

Yes, a consumer proposal will affect your credit rating. However, the impact will not be as severe as bankruptcy. A consumer proposal will remain on your credit report until the sooner of three years after you complete your payments, or six years after you file.

How long does a consumer proposal last for?

If you’re wondering how long your consumer proposal will last, it typically cannot last for longer than five years. Yet, it’s important to keep in mind that the exact length depends on the type of proposal that you submit.

If you choose to, you are able to pay off your consumer proposal early. It will also be a relief to learn that you can pay it off early without the risk of penalties.

A consumer proposal will affect your credit rating in the short-term but in the long-term (after completing the consumer proposal from start to finish) you may see an improved credit score rating. If you are approved for a consumer proposal, it will stay on your credit report 3 years after you’ve paid off your debts or 6 years from the day the consumer proposal was filed (whichever comes first).

Getting out of debt will make you feel free and will help you start your journey of having a better credit rating overall.

What will I lose and / or keep after a consumer proposal?

Consumer proposals are not like bankruptcies. Instead, your assets and belongings are protected, so you will be able to keep them all.

Can you keep a credit card with a consumer proposal?

In the vast majority of cases, you can’t keep a credit card when you file a consumer proposal. It is possible to apply for a new credit card during your consumer proposal, but it’s advised you do so with caution and maintain healthy credit card habits, such as paying bills on time and making regular payments to rebuild your credit.

This can vary according to your own individual circumstances, the state of your credit and the lender you use.

Often a lender won’t consider a new mortgage until your credit score falls within a healthy range. There are alternative lenders who will be more willing to consider a new mortgage and there is nothing to stop you from applying for one.

Can a consumer proposal be rejected?

A consumer proposal can be rejected by a creditor, but that doesn’t mean you are out of options or alternatives.

After you file a consumer proposal, creditors have 45 days to vet and vote on your proposal. In that time, they can: reject the proposal, reject the terms of the proposal and ask for a creditors meeting, accept the proposal or do nothing.

Votes are counted only if a creditors meeting is requested. If creditors then vote to reject your proposal by a majority, you have the following options:

  • Renegotiate the terms of your proposal
  • Withdraw your proposal and file for bankruptcy
  • Pursue a different type of debt relief solution
  • File for a new proposal at a future date

Where are you based?

Harris and Partners have offices across Ontario and Alberta, including: Markham, Barrie, Brampton Brantford, Calgary, Hamilton, Kitchener, North York, Oshawa, Pickering,St. Catharines and Toronto.

We also operate in the following areas and surrounding areas: Waterloo, Lethridge, London, Windsor, Guelph, Kingston, Kanata, Milton, Greater Sudbury, Red Deer, Edmonton, Fort Mcmurray.


How much does a consumer proposal cost?

The cost of a consumer proposal is different for everyone as everybody’s financial situation is unique to them. However, there are some general ‘rules of thumb’ that apply to most cases:

  • A proposal is an offer to your creditors. A panel will vote on whether to accept your proposal and 51% of the votes cast have to be in favour of it in order for it to pass, otherwise, we have to negotiate.
  • A consumer proposal is usually only accepted by major banks with a 30% (or 30 cents on the dollar) payback offer.
  • Payments are made by you for up to 60 months.
  • Most banks won’t entertain a proposal that offers them less than $115 per month for 60 months.

Do I have to pay the Trustee as well as the consumer proposal costs?

No. All you have to pay is the monthly fee that your Trustee agreed with your creditors. All admin fees and the Insolvency Trustee fee are, essentially, paid for by the creditors themselves.

What are the cost advantages of taking out a consumer proposal over bankruptcy?

It will cost you $2,250 to file for bankruptcy in Canada, plus any additional costs and charges.

The cost of a consumer proposal costs much less at around $1,500, including no upfront fees.

With a consumer proposal, you’ll just pay one monthly fee to your Trustee, which is usually much less than the separate payments you’d make to your various creditors. This gives you more disposable income each month without doing the damage to your credit score that bankruptcy would do.

If you file for bankruptcy then it will stay on your credit file for 6 years, effectively affecting your ability to apply for credit for that length of time. With a consumer proposal, it will be removed 3 years after you’ve paid off your outstanding debts and your credit score should increase, too.

Is bankruptcy or a consumer proposal the right option for me?

Bankruptcy and consumer proposals are both debt relief options, but they have different advantages and disadvantages. Bankruptcy is a more drastic option, but it can wipe out all of your eligible debts. A consumer proposal is a less drastic option, but you will still have to repay a portion of your debt.

The best way to decide which option is right for you is to speak with one of our Licensed Insolvency Trustees. They will take the time to understand your unique situation and help you find the best solution for you. And the best bit – our consultations are completely free.

File a debt consumer proposal with Harris & Partners

Don’t wait for your debts, penalties and interest charges to increase. For most, the first step onto the path toward a debt-free life involves filing a consumer proposal. With fewer, less expensive payments, consumer proposals are a less stressful way to face your debts head-on.

Harris & Partners Inc. is a licensed trustee insolvency (LIT) providing specialist debt relief options to help you manage your financial troubles. We offer a number of debt relief services including debt consolidation and debt settlement.

Harris & Partners is your go-to source for debt help in Canada. We have conveniently accessible locations throughout the country. We are determined to use our expertise to help you live debt-free. Get in touch with a member of our team today!

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Where you can find our consumer proposal services in Canada

We operate across all provinces in Canada except Quebec, so help is always available at a Harris & Partners office near you.

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